California Owner Financed Land
Why buy land in California with owner
If you are thinking of buying land in California but are hesitant because you
don't think you will qualify for a bank loan, owner financing may be a good
option. The key benefit for the buyer in an owner financed land deal (or
Land Contract) is the fact that since you are buying directly from the owner
it is often not necessary to come up with a large down payment or submit
to a credit check. Since the seller of the property holds the title to the land
until the entire balance is paid, there is little risk to the seller even if the
buyer has had credit problems.
Owner Financed land has benefits and drawbacks for both parties. For
the buyer, the easy financing is a big plus, but a drawback is the fact that
most owner finance land is sold at a higher interest rate than a bank loan.
For the seller, owner financing makes it easier to sell the land since there
are more potential buyers. The down side is that the seller will not receive
the total sale price for several years and takes on the inconvenience of
having to collect payments each month.
Because of the economy and the wealth of beautiful vacant land in
California we can expect to see more owner financed California land
transactions in the future.
If you have owner financed land for sale in California,
send a link to email@example.com and we will
include it in this directory.
California real estate development and
sales. Always some land here with
owner financing available.